What is Chinese yuan (CNY) & renminbi (RMB)?

The Chinese Yuan (CNY) and Renminbi (RMB) are interchangeable terms for China's currency. The Renminbi (RMB) is the official name of China's currency. The principal unit of RMB is called the Chinese Yuan (CNY). CNY is the official ISO 4217 abbreviation for China's currency.

What is the difference between renminbi and CNY?

There is essentially no difference. The renminbi is the official currency of the People’s Republic of China, and translates to “people’s money.” Its international symbol is CNY (or CNH in Hong Kong; but abbreviated RMB, with the symbol ¥).

What is renminbi currency?

The renminbi ( Chinese: 人民币; pinyin: Rénmínbì; lit. 'People's Currency'; symbol: ¥; ISO code: CNY; abbreviation: RMB) is the official currency of the People's Republic of China. [note 1] It is the 5th most traded currency as of April 2022.

Who makes the renminbi?

The renminbi is issued by the People's Bank of China, the monetary authority of China. Until 2005, the value of the renminbi was pegged to the US dollar.